ABU DHABI NATIONAL OIL COMPANY FOR DISTRIBUTION PJSC Notes to the interim condensed consolidated financial statements for the six-month period ended 30 June 2024 (continued) 11. Cash and bank balances Cash and cash equivalents in the statement of cash flows consist of the following amounts: 30 June 2024 31 December 2023 (unaudited) (audited) AED’000 AED’000 Cash and bank balances 3,198,378 2,993,937 Short term deposits with original maturities greater than three months 200,225 200,225 Cash and bank balances include short-term and call deposits amounting to AED 2,508,022 thousand (2023: AED 2,672,013 thousand) carrying interest rate ranging from 0.30% to 5.40% (31 December 2023: 0.30% to 4.55%) per annum. 12. Borrowings 30 June 2024 31 December 2023 (unaudited) (audited) AED’000 AED’000 Term loan- non current 5,492,815 5,492,280 5,492,815 5,492,280 On 26 October 2022, the Company refinanced its maturing term loan originally taken in November 2017 for another 5-year term with a set of lenders. The Company also entered into a new corporate revolving credit facilities agreement with the Parent Company for an amount of USD 375,000 thousand and AED 1,377,188 thousand to be used for general corporate purposes. The transaction costs allocated to the revolving facility have been capitalised and will be amortised on a straight-line basis over the term of the agreement. Transaction costs amounting to AED 9,870 thousand (31 December 2023: 10,558 thousand) are presented as part of the other non-current assets. The new term loan facility carries a variable interest at Secured Overnight Financing Rate plus a margin of 0.85% for USD denominated facility portion and EIBOR plus a margin of 0.60% for AED denominated facility portion. In 2023, the Company and its lenders have agreed to amend and convert the term loan facility to a sustainability linked loan. The converted loan facility contains Environment, Social and Governance covenants which is linked to the margin on the loan. 13. Trade and other payables 30 June 2024 31 December 2023 (unaudited) (audited) AED’000 AED’000 Trade payables 667,450 583,141 Capital accruals 454,237 610,117 Operating accruals 103,988 289,098 VAT payable 309,045 317,956 Coupon and prepaid card sales outstanding 120,292 114,831 Contract retentions payable 144,432 122,535 Advances from customers 54,469 67,539 Dividend payable 40,828 31,622 Other payables 554,764 404,516 2,449,505 2,541,355 14. Provision for decommissioning The provision for decommissioning obligation is with respect to the dismantling obligation regarding the service stations built on leased lands in Dubai and Northern Emirates in the UAE. 30 June 2024 31 December 2023 (unaudited) (audited) AED’000 AED’000 Opening balance 149,362 134,532 Additions during the period/year 1,572 9,394 Accretion of interest 3,066 5,436 Exchange differences (591) - Closing balance 153,409 149,362 18